Toepfer and Elders start grain venture

German-based grain trader Toepfer Grain, an
independent unit of ADM will team up with Australian firm Elders Ltd to
undertake high volume exports of Australian wheat, barley and
rapeseed/canola.

The joint venture, called Elders Toepfer Grain
will mainly focus on the Asian region, but the Middle East would also be considered for
exports. This will give Elders greater global reach, according to Elders Grain
general manager, Mark Thiele.

For Toepfer the advances include that the company
can offer Australian wheat, for example in tenders from Egypt and Iraq, which
are traditionally large buyers of Australian grain.